Crescent Energy Company (NYSE:CRGY) Receives Average Rating of “Moderate Buy” from Brokerages

Crescent Energy Company (NYSE:CRGY) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $15.5833.

A number of analysts recently weighed in on the stock. Zacks Research cut shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Stephens reissued an “overweight” rating and set a $18.00 price objective on shares of Crescent Energy in a research note on Tuesday, May 5th. UBS Group assumed coverage on Crescent Energy in a report on Tuesday, July 14th. They issued a “buy” rating and a $13.00 target price on the stock. Wells Fargo & Company upped their target price on Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Johnson Rice reissued an “accumulate” rating and issued a $19.00 price target on shares of Crescent Energy in a research note on Wednesday, March 25th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Crescent Energy during the first quarter valued at approximately $32,000. Fifth Third Bancorp lifted its position in shares of Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after acquiring an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Crescent Energy by 134.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after purchasing an additional 2,286 shares during the period. Quarry LP boosted its stake in Crescent Energy by 303.5% in the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after purchasing an additional 3,123 shares during the period. Finally, Allworth Financial LP grew its position in Crescent Energy by 42.3% during the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after purchasing an additional 1,401 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Trading Up 5.2%

Shares of Crescent Energy stock opened at $11.02 on Wednesday. The business has a fifty day simple moving average of $11.14 and a 200-day simple moving average of $11.14. Crescent Energy has a fifty-two week low of $7.68 and a fifty-two week high of $14.29. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -14.69 and a beta of 1.40. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.39 by $0.14. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. Crescent Energy’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. On average, equities analysts forecast that Crescent Energy will post 1.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a yield of 4.4%. Crescent Energy’s dividend payout ratio is currently -64.00%.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.